The US automobile insurance industry takes in roughly $228 billion in annual revenue according to recent estimates. The average driver spends about $814 per year in premiums. If you’d like to pay less for auto insurance without seriously impacting coverage, here are a few hacks that can make a big difference on your monthly bill.

 Auto Insurance: 5 Ways To Save Money On Your Car Coverage

Clean Up Your Credit History

Outside of an SR-22, nothing drives up premiums like a lousy credit rating. Fortunately, little things like setting up payment plans for old debts can make surprising differences in your credit rating. Make sure to apprise your carrier of credit rating improvements as soon as they occur and lobby for lower rates.

Reduce Your Vehicular Balance Sheet

Assuming a clean driving record and solid credit, the value of your vehicles is a huge factor when it comes to determining rates. If you have three wholly owned vehicles that are at least five years old, your monthly payment can be as little as $60. Whenever possible, buy pre-owned cars or trucks and pay cash.

Do Your Own Repairs When Possible

Using your insurance policy to deal with damages is a sure-fire way to raise rates. If you’re looking at minor repairs that you can do yourself, use a site like U Pull & Pay to source quality pre-owned parts and apply some elbow grease. Save major claims for major incidents that require an expert technician.

Fine-Tune Deductible Price Points

If you’re going to deal with minor repairs yourself, raising your deductible to $1,000 or more is a wise move. Doing so makes a lot of sense if you’re not driving a fairly new car with a decent Kelley Blue Book value. This one policy change can save you hundreds in premiums annually.

Take Advantage of Policy Discounts

Most drivers don’t realize how many discounts are available to them based on their occupations and driving habits. Teachers, EMTs, law-enforcement officers and members of the military frequently qualify for discounts that often go unexploited. If you drive less than 5,000 miles per year, most carriers will cut you a break on premiums.

There’s no one magic bullet that will slash insurance rates to the bone. The best course of action for any individual will depend on their financial situation, living arrangement and daily schedule at a minimum. Regardless, all of the ideas mentioned here can work wonders for any motorist.